Far from the Middle East war, fallout from oil disruptions is reverberating across the world, unsettling lives from Lagos to Manila as people adjust to fuel price hikes and gas shortages.Â
Benchmark oil prices are hovering around $100, a surge of around 40 to 50 percent since the war against Iran began to disrupt oil supplies.
kAm(66<D 367@C6 H2C 3C@<6 @FE[ p56@=2 $2??:[ 2 be\J62C\@=5 }:86C:2? 6?EC6AC6?6FC >2<:?8 4@CA@C2E6 F?:7@C>D :? {28@D[ 925 A=2??65 E@ 9:C6 2? 255:E:@?2= H@C<6C]k^Am
kAm}@H E9@D6 A=2?D 2C6 @? 9@=5 2D 96C 3F586E :D 62E6? FA 3FJ:?8 A6EC@= E@ A@H6C FA 86?6C2E@CD E@ CF? 96C D6H:?8 >249:?6D 27E6C 7F6= AC:46D ;F>A65 23@FE a_ A6C46?E :? p7C:42VD >@DE A@AF=@FD 4@F?ECJ]k^Am
kAm}:86C:2VD 6=64EC:4:EJ DFAA=J :D F?DE23=6 2E E96 36DE @7 E:>6D[ 3FE 92D H@CD6?65 :? C646?E H66<D 5F6 E@ 82D DFAA=J D9@CE286D[ 7@C4:?8 3FD:?6DD6D 2?5 9@FD69@=5D E@ DA6?5 >@C6 @? AC:G2E6 A@H6C 86?6C2E@CD]k^Am
kAmQx 2> 4FCC6?E=J DA6?5:?8 >@C6 E92? bb A6C46?E >@C6 @? 7F6= E92? x FD65 E@[Q $2??:[ E@=5 pu!]k^Am
kAmx? }:86C:2[ A6EC@= AC:46D C@D6 C646?E=J 7C@> gb_ ?2:C2 2 =:EC6 :? {28@D E@ `[ad_ ?2:C2 WS_]dh E@ S_]h_X \\ 2Â C64@C5Â 9:89 :? 2 4@F?ECJ H96C6 E96 AF>A AC:46 H2D ;FDE `hd ?2:C2 2E E96 368:??:?8 @7 a_ab \\ 367@C6 62D:?8 E@ `[`b_]k^Am
kAm!F3=:4 EC2?DA@CE 72C6D 92G6 ;F>A65 3J 2D >F49 2D 2 E9:C5 255:?8 E@ E96 >:D6CJ @7 A2DD6?86CD DE:== C66=:?8 7C@> 2 4@DE @7 =:G:?8 4C:D:D 42FD65 3J C67@C>D E92E D=2D965 7F6= DF3D:5:6D]k^Am
k9am\ !=2?D :? 5:D2CC2J \k^9am
kAmx?5:2?D =:<6 9@FD6H:76 zC:E: !C2D25 92G6 366? 7@F?5 E96>D6=G6D 56DA6C2E6=J 9F?E:?8 7@C 4@@<:?8 82D 2D DFAA=:6D 5H:?5=6] !6@A=6 92G6 366? BF6F:?8 FA 24C@DD E96 4@F?ECJ @FED:56 82D 4J=:?56C 286?4:6D] Â Â k^Am
kAmt=64EC:4 :?5F4E:@? DE@G6E@AD 92G6 2=D@ 366? D6==:?8 @FE :? x?5:2 2D 9@FD69@=5D CFD9 E@ 7:?5 2=E6C?2E:G6D] %9@D6 ?665D 42? 36 6DA64:2==J 24FE6 5FC:?8 C6=:8:@FD 76DE:G2=D =:<6 t:5 7@C |FD=:>D 2?5 E96 2AAC@249:?8 w:?5F 76DE:G2= @7 r992E9]k^Am
kAmQx 92G6 366? ECJ:?8 E@ 3@@< 2 82D 4J=:?56C 7@C 52JD ?@H 3FE x 92G6 925 ?@ =F4< D@ 72C] %9:D 92D E9C@H? 2== @FC A=2?D :? 5:D2CC2J[Q !C2D25[ cb[ E@=5 pu!]k^Am
kAmQ%96 8@G6C?>6?E :D D2J:?8 E96C6 :D ?@ ?665 E@ A2?:4 3FE E96 8C@F?5 C62=:EJ :D 5:776C6?E]Qk^Am
kAm$>2== 2?5 >65:F>\D:K65 x?5:2? C6DE2FC2?ED 92G6 2=D@ 366? 7@C465 E@ 2=E6C >6?FD 2D 2FE9@C:E:6D AC:@C:E:K6 9@FD69@=5 DFAA=:6D @7 82D] (:E9 3=24< >2C<6E 82D AC:46D ?62C=J 5@F3=6[ D@>6 2C6 =@@<:?8 E@ 4@@< @? H@@5 DE@G6D @C FD6 =6DD 6?6C8J\4@?DF>:?8 >6E9@5D]k^Am
k9am\ V}@ @?6 H:?D :? H2CV \k^9am
kAmx? E96 !9:=:AA:?6D[ D@>6 EC:4J4=6 E2I: 5C:G6CD 92G6 D66? 7F6= AC:46 9:<6D D=2D9 E96:C 52:=J 62C?:?8D :? 92=7]k^Am
kAm#@>6@ r:AC:2?@ 92D 366? 5C:G:?8 2 EC:4J4=6 :? |2?:=2 7@C 7@FC 564256D 2?5 D2JD 7F6= AC:46D 2C6 ?@H E96 9:896DE 96 92D D66?]k^Am
kAmw6 C646?E=J ;@:?65 9F?5C65D @7 5C:G6CD =:?:?8 FA 7@C 42D9 92?5@FED @7 d[___ A6D@D WSgcX E92E E96 8@G6C?>6?E 9@A6D H:== AC@G:56 E6>A@C2CJ C6=:67]k^Am
kAm!2E:6?E=J 2H2:E:?8 9:D DF3D:5J 2E E96 |2?:=2 4@>>F?:EJ 46?EC6[ r:AC:2?@ D2:5 96 4@F=5 @?=J AC2J 7@C 2 BF:4< 6?5 E@ E96 H2C]k^Am
kAmQ(6VC6 ?@E E96 @?=J @?6D 27764E65[Q 96 D2:5] Q}@ @?6 H:?D :? H2C]Qk^Am
kAmpFE9@C:E:6D 92G6 2=D@ :?4C62D65 72C6D @? D@>6 =@42= EC2?DA@CE E@ @77D6E 7F6= 4@DED]k^Am
k9am\ VrC:E:42=V 5:6D6= 4@DED \k^9am
kAmuC6?49 7:D96C>2? s2G:5 {6 "F:?EC64 D2:5 5:6D6= AC:46D 7@C G6DD6=D 925 D66? 2? Q6?@C>@FDQ :?4C62D6[ 7@C4:?8 E96> E@ D2:= D9@CE6C 5:DE2?46D E@ D2G6 @? 7F6=]k^Am
kAmQs:6D6= 92D C624965 2 AC:46 E92EVD BF:E6 4C:E:42= 7@C FD[Q D2:5 {6 "F:?EC64[ F?=@25:?8 D@=6 2?5 D62 32DD 42F89E C646?E=J @G6C?:89E 2E E96 A@CE @7 {@C:6?E]Â k^Am
kAm%96 7:D96C>2?[ H9@ 2=D@ 9625D E96 uC6?49 &?:@? @7 pCE:D2?2= u:D96C>6? W&u!pX[ 92D D66? 7F6= AC:46D D<JC@4<6E :? ;FDE `_ 52JD[ 7C@> e_ 46?ED 2 =:E6C E@ ?62C=J h_ 46?ED]Â k^Am
kAm}@E 72C 2H2J[ 7:D9:?8 @A6C2E:@?D >2?2?86C y6C@>6 }:4@=[ D66D =:EE=6 9@A6] x7 5:6D6= C62496D @?6 6FC@ A6C =:E6C[ 9:D 7=66EVD 7:G6 EC2H=6CD H:== C6>2:? :? A@CE 3642FD6 :E H:== ?@ =@?86C 36 AC@7:E23=6 E@ D6?5 E96> @FE]Â k^Am
kAmQu@C 3@2ED 4@?DF>:?8 >@C6 E92? 2 E@??6 @7 7F6= A6C 52J[ E92EVD D6G6C2= 9F?5C65 6FC@D >@C6[Q 96 D2:5]k^Am
k9am\ xC2?:2? G688:6D[ 4:82C6EE6D \k^9am
kAmyFDE @G6C E96 3@C56C 7C@> xC2?[ :? E96 %FC<>6?:DE2? 42A:E2= pD98232E[ A6?D:@?6C $96>D92E zFC32?@G2 :D FD65 E@ 3FJ:?8 xC2?:2? ;F:46D 2?5 7CF:ED] qFE ?@H >@DE @7 E96 AC@5F4ED 92G6 D9@E FA :? AC:46]k^Am
kAmxC2? 92D 32??65 2== 8@@5D 2?5 28C:4F=EFC2= 6IA@CED[ EC:886C:?8 64@?@>:4 AC6DDFC6 @? %FC<>6?:DE2? 2?5 E96 H:56C r6?EC2= pD:2 C68:@?[ H96C6 %69C2? 92D 925 2 8C@H:?8 64@?@>:4 :?7=F6?46]k^Am
kAmQx FD65 E@ 2AAC64:2E6 E96:C =@H AC:46D] qFE ?@H 6G6CJE9:?8 92D 5@F3=65[Q zFC32?@G2 D2:5]k^Am
kAmv@G6C?>6?E H@C<6C z6C:> q2==J6G 92D 4FC365 9:D 962GJ 4@?DF>AE:@? @7 xC2?:2? 4:82C6EE6D]k^Am
kAmQxEVD E@@ 6IA6?D:G6 7@C >6[Q 96 D2:5] Qx H@?VE 36 3FJ:?8 2 H9@=6 A24<[ xV== 3FJ E96> :?5:G:5F2==J]Qk^Am
k9am\ }@ 7F6=[ ?@ ;@3 \k^9am
kAmx? %92:=2?5[ 7C@> E96 42A:E2= q2?8<@< E@ E96 ?@CE96C? r9:2?8 #2:[ 5C:G6CD 2?5 C:56CD 2C6 =:?:?8 FA 7@C 7F6= 2D E96J 7246 H@CD6?:?8 D9@CE286D H@CD6?65 2?5 C:D:?8 AC:46D]k^Am
kAmvC23 7@@5 56=:G6CJ C:56C ~C2492[ cg[ D2:5 D96 H2D =@D:?8 >@?6J 3642FD6 D96 92D E@ DH:E49 @77 96C 2AA E@ D62C49 7@C 7F6= 7@C 2? 9@FC]k^Am
kAmQx =@D6 >J :?4@>6 7@C E92E 9@FC[Q D96 D2:5[ 255:?8 D96 ?@C>2==J >2<6D b_ E@ d_ 329E WS_]ha E@ S`]dbX 2? 9@FC 2?5 92D E@ H@C< =@?86C E@ >2<6 FA 7@C =@DE E:>6]k^Am
kAmQx7 E96C6VD ?@ 7F6=[ :E 766=D =:<6 x 5@?VE 92G6 2 ;@3 2E 2==]Qk^Am
kAm3FCD^C=k^Am

